Illinois Condo Act is 50 years old

07/15/2013 | Chicago Tribune (tiered subscription model)

Fifty years ago, the Illinois Condominium Property Act was created to introduce a new lifestyle, shared homeownership, to the state and the U.S. "From my perspective, the continual tweaking that has been done on the ICPA has enhanced community living in Illinois," says Barbara Wick, president of Community Association Risk Management and Insurance Consultants. "While the act focuses on association operations, it also protects the residents by ensuring their rights, transparency of association operations, consistency and fairness."

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